US Consumer Sentiment Slips Near Record Low as Prices Rise

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US consumer sentiment dipped slightly as higher prices tied to the Middle East conflict weighed on household finances. The Consumer Sentiment Index edged down to 48.0 in October, close to its all-time low. Independent voters reported a sharp drop in sentiment, while Democrats and Republicans reported improvements. Consumers also expressed rising expectations for future inflation. Ahead of its upcoming meeting, the Federal Reserve is widely expected to keep interest rates unchanged.

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